Latest market data

Stock search

Franchise Playersis Entrepreneur’s Q&A
interview column that puts the spotlight on franchisees. If
you're a franchisee with advice and tips to share, email
ktaylor@entrepreneur.com.

Greg Wann was used to being a smaller part of huge international
corporations. However, he knew someday he wanted to start his own
business. Opening a Homewatch CareGivers business in Florida,
Wann faced a saturated caregiving market. However, instead of
competing, he found his own niche – long-distance caregivers
managing the care of loved ones. Here's how he set his business
apart.

After spending most of my career working at large international
corporations, the first major decision I made was really to start
my own business. I reached a point in my career where I wanted my
goals, phone calls, emails and daily interactions to be
dramatically different. In other words, I wanted to have more of
a direct impact on clients, the community and the course of my
own life. For example, I used to spend lots of time in conference
rooms and on the phone, whereas now I’m in the field and talking
to people—clients and their families—face-to-face every day.

Once I decided to start my own business, it became clear that
franchising was the best way for me to realize the professional
and personal goals I set out to pursue. I was in my forties and
didn’t want to start from scratch in such an intricate industry
as elder care. So I needed to leverage the expertise of people in
the network, as well as the reputation of an established brand.
Particularly in the home care industry, you need that solid
foundation and support network even before you open your doors.
The regulatory and licensing requirements are complex and really
demanding in Florida, so it’s essential to partner with a
franchisor that can guide you through the process — and connect
you with other franchisees willing to do the same.

I spent nearly two decades in the corporate world, first in
accounting and eventually as an HR executive at the Walt Disney
Company. In that capacity, I lived abroad for about four years in
Hong Kong and France. After spending most of my career at Disney,
I spent a few years in the nonprofit world working for World
Vision International. That position required a lot of
international travel as well. As a lot of people know, the
corporate world can be very rewarding, but also demanding. I had
some amazing experiences and accomplished a lot of my
professional goals, but sometimes those goals change. For me, it
eventually became about independence, control and time for my
family.

Why did you choose this particular franchise?

Two things really mattered for me at the end of the day: 1) The
caliber of other franchise owners, and 2) the character and
competence of the franchisor and senior leadership team of the
franchisor. Homewatch CareGivers International clearly fit that
bill.

When you start researching franchises, you realize early on that
the expertise, reputation and support of other franchise partners
will be key to your success. At the beginning of the validation
process, Homewatch CareGivers put me in touch with five
franchisees, and I spent about an hour on the phone with all of
them. I walked away from every one of those conversations
impressed. Not just because of the their business acumen, but
their sincerity—about their clients, service and the success of
the entire network. I myself do validation calls now with
potential franchisees because I know the value of those
conversations and the impact they can have on your decision.

At Homewatch CareGivers, that culture of collaboration and
commitment to quality service wasn’t just something I heard from
franchisees, I saw it reflected and fostered at the corporate
level as well. And that really influenced my decision to partner
with Homewatch CareGivers. My conversations with other
franchisors seemed to lean toward the topics of financial
success, marketing and rapid growth. My conversations with
Homewatch CareGivers corporate were different—although financial
success and growth were important, it was also clear that
providing quality service, maintaining a focus on people and
market planning were seen as ways to achieve business success.

When you are choosing a franchisor, you are really choosing a
long-term business partner, so corporate culture and leadership
matter. In short, Homewatch CareGivers President, Leann Reynolds,
was the kind of leader I wanted to associate myself with. After
years in the corporate world, she returned to the business her
father founded—as a franchisee. She commands a lot of respect
because she’s been in our shoes.

How much would you estimate you spent before you were
officially open for business?

My investment was probably higher than most because of the
licensing requirements for the state I’m operating in – Florida
is one of the more regulated states and therefore one of the most
expensive states in which to obtain a home care license.
Homewatch CareGivers estimates that the investment necessary to
begin operations is from $83,750 to $136,500, which includes the
franchise fee, three months working capital and other office and
startup costs. This investment cost is based on varying factors,
including the size of the territory you purchase, whether your
state requires licensing and the cost of operating in your local
market area.

Most of my research I did online and through phone calls or
meetings. Once I decided I wanted to live in Sarasota and start a
home care business, I spent a lot of time learning about the
different franchises with that territory open. I found the best
way to learn about a franchise is in talking to franchisees and
senior leadership.

I knew from my research that regulatory and licensing
requirements in Florida would be a challenge but, like anything
in life, you never really know until you go through it! I
basically had to start operations prior to opening in order to
get my business license. For example, you are required to show
you have a nurse on staff, emergency management program and
ongoing training plan when you apply for your license. There are
actually consultants in Florida who make a living guiding people
through the complicated process! I did it on my own, but was
lucky to have support from Homewatch CareGivers corporate
leadership and other franchise owners familiar with the process.

What advice do you have for individuals who want to own
their own franchise?

Define your business goals for the short, medium and long term.
Having clarity on the growth process and your own expectations is
really important when you are starting out. It’s not just about
financial benchmarks, but imagining what you want your role in
the business to be at various stages and how you want your day to
day life to look. Select a franchisor that allows for enough
independence and flexibility to enable you to grow professionally
and eventually focus on certain aspects of the business that you
like. But be aware that getting to that point requires a lot of
work at the outset.

Once you’ve established your goals, make sure that the franchisor
you choose can support that vision along the way. I mean this in
terms of the franchise’s business model as well as its culture
and values. You want to be thorough in researching the legal and
financials, but also make sure you’d be proud to be associated
with the franchisor.

What’s next for you and your business?

My business has grown to a point where I have a bit more free
time, and I want to spend it with my family as well as engaging
with the community. I really like that aspect of the business and
would like to focus on it more. I also want to continue achieving
steady growth.